PHILADELPHIA, Sept. 27, 2016 /PRNewswire/ -- Sidecar today announced the general availability of its optimization solution for Facebook dynamic ads. The Sidecar team is sharing details about its Facebook solution, as well as its Google Shopping optimization technology, at the Shop.org Digital Summit, booth #2025, Sept. 27-28.
Sidecar's dynamic ads solution drives greater ROI in the channel by going beyond Facebook's retargeting approach. Rather than using just demographic data and limited onsite activities to bucket website visitors, Sidecar uses machine learning to dynamically build audiences in Facebook based on each visitor's likelihood to purchase from the retailer.
Sidecar scores visitors by analyzing all their interactions on a retailer's site across devices and understanding what that means about their intents to purchase. It updates audiences as visitors engage, bidding more aggressively on audiences that have a greater probability of payoff, and less aggressively on audiences with a lower probability of payoff.
Since Sidecar released the beta of its Facebook dynamic ads solution, retailers including Nuts.com have embraced it for its ability to maximize opportunities in the channel.
"Sidecar challenges the standard model for managing Facebook dynamic ads, combining multiple data points to simplify marketing decisions," said Howard Chiu, Online Marketing Manager for Nuts.com. "The result is that we're able to provide the catered user experience promised by Facebook dynamic ads, and quickly and efficiently grow the channel."
Facebook Dynamic Ads: Opportunity and Challenge
The opportunities created by Facebook dynamic ads are well-documented: Get back in front of website visitors with relevant products from your entire catalog, on any device. Capitalize on mobile traffic by retargeting shoppers on the #1 mobile app globally.
To accomplish these goals, Facebook lets retailers create audiences based on its vast collection of demographic and behavioral data, as well as three onsite actions—products viewed, added to cart, and purchased. But there are two shortcomings in this approach. 1) Demographics reveal little insight into purchase intent. 2) Three actions are merely snapshots into a visitor's onsite journey.
Consider: A retailer could create a Facebook audience of visitors who viewed a particular TV on its website, are 35, female, live in Boston, and work as high school math teachers. All of that demographic data reveals nothing about their intents to purchase. The fact that they viewed the TV, does. Still, that doesn't mean every visitor in that audience has the same level of intent to purchase the TV. Yet the retailer is bidding equally on those visitors—likely underbidding on some and overbidding on others.
Adding Context to the Channel
Now imagine that the retailer also knows who returned the next day to view six more products, who spent five minutes examining spec sheets, who did not return to the site, and so on. The visitors look much different than just a group of women, age 35, who live in Boston, and teach math to high schoolers. They look like individuals who have different intents to purchase—and who deserve different bids.
That's the upper hand that Sidecar introduces to Facebook dynamic ads. Sidecar paints a complete and detailed picture of visitors' intents to purchase, learning and capitalizing on the contextual information required to benefit from retargeting solutions in general, and Facebook dynamic ads specifically.
"To drive sales through Facebook dynamic ads, retailers need short-term views into their visitors' actions," said Dave LeDonne, Director of Product for Sidecar. "When has a visitor engaged with a retailer enough to want to buy? Sidecar learns this trigger point to retarget visitors at the right time and with the right amount of spend."
- FAQs about Facebook dynamic ads
- The value of Facebook dynamic ads
- How Facebook dynamic ads differ from other Facebook ads
- How Facebook dynamic ads help retailers convert mobile shoppers
Sidecar is an e-commerce marketing technology that uses machine learning to solve the complex, data-intensive process of connecting consumers to relevant retail products, in all paid marketing channels where consumers shop. Sidecar takes relevance to the next level, allowing retailers to display the right product ads to the consumers most likely to purchase them, at the right moment.
The technology considers an average of 1.2 million data points each day to analyze and index every product in a retailer's catalog, to ensure profitable growth out of paid customer acquisition channels across all devices.
Retailers that use Sidecar drive millions of dollars of new, measurable revenue and save time and internal resources, while maximizing ROI and improving the conversion journey for customers. Brands including Newegg, Boscov's, Serena & Lily, and Bealls count on Sidecar to optimize their product advertising campaigns. Sidecar retail customers average an 87% increase in YoY channel revenue and a simultaneous 15% growth in return on ad spend.
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